Retail banking
Smart, effective, real-time fraud prevention for retail banks.
Retail banks face rising costs, increased competition and an ever-more serious fraud landscape. They are also under pressure to enter new markets and extend products and services such as open banking and instant payments without adding risk. In addition, they face costly regulatory compliance and need to meet international standards.
NetGuardians’ comprehensive fraud-prevention software was designed specifically for banks, overcoming their particular challenges when it comes to beating payment fraud. Its proven efficiency means it is relied on by leading retail banks worldwide to protect their customers and their reputations.
Cost-effective
Our comprehensive, automated software is pre-integrated with the major core banking systems and delivers market-beating paybacks. The average bank expects software to pay for itself within 22 months. Banks using NetGuardians see payback three times faster – on average 8 months.
Compliance without compromise
PSD2, SWIFT CSP and anti-money-laundering transaction monitoring are all covered by one solution that also supports the latest international market standards such as Instant Payments ISO 20022. Our solution also allows banks to enter new markets and extend products and services, such as offering fast/instant payments and open banking, without adding risk.
Safeguard customer trust
Cutting-edge artificial intelligence using a data-centric approach spots even new fraud types, explaining exactly the nature of an anomaly. This creates a continuous feedback loop to help with fine-tuning, making the models even more accurate, thus cutting false alerts and unnecessary customer call backs and stopping more fraud. Our software keeps risk under control and avoids exposure to fines and fraud losses to build and maintain trust and protect your reputation.
Full financial crime suite
Our platform can be used across the organization to prevent internal fraud, external fraud and monitor transactions for AML purposes. We connect silos so the bank can unify customer insights, transactions, and processes, making investigations faster, more efficient and cutting risk.
Find out for how fast you could be reaping the rewards.
Recent caught frauds
NetGuardians stops more fraud
Efficiency runs through NetGuardians’ fraud-prevention software. By learning and analyzing the behavior of each and every customer in real time, it correctly identifies anomalous transactions associated with each account, dramatically increasing the fraud-detection rate without adding friction.
We are already part of the global financial ecosystem, embedded into the banking platforms of major vendors including Finastra, Avaloq, Finacle and Mambu and is available on premise and in the cloud. As a result, it can be installed easily and quickly with minimal impact on the existing processes of any bank and the experience of its customers.
How it works
Some users reviews
NetGuardians’ solution has an excellent proven ability to accurately spot fraudulent payments and can process very high volumes in real time. This means we will spot more fraud and stop payment before any money has left the account. This is good for us as a bank and good for our customers. Read more
Philipp Keist, Head of ICT at LUKB
Everything we do is for our customers. By working with NetGuardians we will be able to give them the best protection against fraudsters and improve our service to them. The accuracy of the software means we will only contact them when a transaction is highly likely to be fraud. This has two benefits – we will stop more fraud and contact our customers less often. It’s a win-win. Read more
Christoph Schaer, Chief Operating Officer at BLKB
Why NetGuardians?
Comprehensive, ready-to-go financial crime suite that prevents internal and external fraud in real time and monitors transactions for AML purposes
Tailored support for retail banks including up-to-date market trends and challenges, peer group analytics and models, guidance on optimal sizing of investigation teams and help defining KPIs and threat thresholds
NetGuardians community
Collective AI/peer-group comparisons across the global NetGuardians client community makes the software even more efficient – by between 20 and 30 percent.
Used by leading retail banks worldwide including UOB Singapore and BLKB NetGuardians provides state-of-the-art fraud prevention to combat financial fraud.
Success stories
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Sidian bank
Sidian Bank wanted greater visibility over its back-office core banking to bring more rigor to its controls and processes and produce easy-to-understand reports.
Even before the implementation was complete, the software spotted and stopped a fraud at Sidian and another bank.
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Aargauische Kantonalbank
AKB wanted to simplify the fraud-mitigation process and make it faster. It also wanted the new system to monitor transactions across all channels in real time.
The bank achieved a 90 percent reduction in the number of false alerts compared with its previous rules-based system.
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Acleda bank
Cambodia’s largest bank wanted to detect fraud before it happened and reduce its operational costs.
The bank saved time compiling detailed reports – falling from one day a week to between one and two hours. There has also been an immediate decrease in frauds.
Solutions
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Payment fraud
Instantly and accurately block fraudulent transactions resulting from account takeover and social engineering scams.
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Internal fraud
Prevent internal banking fraud due to internal and external collusion, controls bypass and more.
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AML transaction monitoring
Identify potentially suspicious transactions and risky customer behaviour while intelligently lowering false positive rates.
Discover how retail banks worldwide achieve 75% reduction in operational losses while analyzing more transactions in real-time.